Waterloo was chartered in 1855. It served as a stop along the Port Royal & Western Carolina Railway, and its population peaked in 1890 with 291 residents. Today, US 221 (Greenwood Highway) runs through the heart of Waterloo, which is located south of the City of Laurens.

J.C. Smith opened the Bank of Waterloo on Main Street in 1913. The frame building has a brick exterior and occupies the northernmost section of the three-part commercial block. The main facade is framed with large brick pilasters that are topped with a simple entablature. The main door has a simple transom and is offset with a store window located to the right. The door and window are topped with a simple entablature supported by small brackets. This same decoration is seen in the gutter just below the roofline.

The bank remained in operation under the direction of E.V. Golding through the agricultural depression that
gripped the south in 1921, but was forced to close its doors in 1931 after the Great Depression made it impossible for Golding to continue. Today the building stands empty with "Bank of Waterloo" still legible on the main facade.

SCIWAY thanks James P. Karner of Rock Hill for this amazing photo. James writes, "A still-working light pole sets up a beautiful scene for the old and forgotten Bank of Waterloo. [This picture was] shot at night only using light from pole and red tail lights of passing cars."

The Indie Grits Festival is presented by the Nickelodeon Theatre, the only non-profit, art-house theater in South Carolina. Its purpose is to empower Southern filmmakers. Now in its seventh year, Indie Grits has grown to span 10 days of film coupled with several official festival partner events, presenting an array of cultural events that showcase progressive cultural life unmatched in the Southeast.